Canadian employers are anticipating the highest salary increase in two decades.
According to the report by consulting firm Eckler Ltd., the national average base salary increase for next year is projected at 4.2 per cent, excluding planned salary freezes, which parallels 2022 actual base salary increases. Projected salary increases for 2022 was lower than the actual figures.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The survey results also show that Canadian organizations are planning to use compensation as a key part of their talent management strategy, with just one per cent of organizations reporting a planned salary freeze for 2023.Meanwhile, new research from talent solutions and business consulting firm Robert Half found that salary remains top of mind for Canadian workers, with 57 per cent of professionals saying they feel underpaid.
Forty-seven per cent of professionals are more likely to request a higher starting salary today compared to 12 months ago.
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